Attention will be on Fed officials' forecasts about where they expect interest rates, the economy and the job market to head in upcoming years.
Wall Street is drifting Monday, while oil prices keep rising to raise the pressure on inflation.
The Standard & Poor’s 500 was 0.1% lower in early trading, coming off its second straight losing week. The Dow Jones industrial average was up 22 points, or 0.1%, at 34,640, as of 9:45 a.m. Eastern, and the Nasdaq composite was 0.1% lower. Stocks have been see-sawing since early August on uncertainty about whether the Federal Reserve is finally finished with its drastic hikes to interest rates. Higher rates have helped cool inflation from its peak last summer, but they also hurt prices for stocks and other investments while slowing the economy.
Traders almost universally expect the Fed to keep rates steady at its meeting this week, which ends Wednesday. More attention will be on the forecasts Fed officials will publish about where they expect interest rates, the economy and the job market to head in upcoming years.One of the first the market will fixate on is how high officials at the Fed see its main interest rate rising this year.
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